Jimmy Choo to list on London Stock Exchange

Tuesday, 23 September 2014
Luxury footwear brand Jimmy Choo has announced plans to list its shares  on the London Stock Exchange.

The company, which was founded in 1996 by couture shoe designer Jimmy Choo and Vogue accessories editor Tamara Mellon, said it would use the funds to help it expand in Asia and other new markets.

The firm, which recorded sales of 282 million pounds last year, said it was confident shareholders would benefit from strong growth.

"Our future as a public company can only extend our reputation," said Jimmy Choo chief executive Pierre Denis.

Jimmy Choo started as a bespoke shoe maker in London's East End in the 1990s but left the business in 2001.

Jimmy Choo will join Burberry and Mulberry as only the third British luxury group to be listed in the FTSE 100. The stake is expected to fetch close to 200 million pounds. Next years’ earnings are expected to surpass 50 million, meaning the company would be valued at more than 12 times its earnings.

The firm is now owned by JAB Luxury, and has 120 shops globally. It has been opening between 10 and 15 shops a year with experts expecting it can grow to around 300 shops globally. It has expanded into accessories and now 25 percent of its business comes from handbags and small leather goods.

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